Planning and Development.

Stony Island Commercial/Burnside Industrial TIF

Designation: 1998 Expiration: 2034

The purpose of the Stony Island Commercial and Burnside Industrial TIF is to revitalize a pair of adjacent economic centers as a cohesive employment district that serves portions of the Burnside, Chatham, Pullman, Avalon Park and Calumet Heights communities. The Burnside Industrial Corridor at the time of the TIF's designation was characterized by viable businesses along with numerous obsolete and vacant structures and vacant land. The Stony Island commercial corridor was characterized by similar characteristics, with most commercial centered around 87th Street and Stony Island Avenue. The purpose of the approximately 611-acre TIF is to provide resources for the revitalization of both areas with job-generating investments that serve area residents and workers. Funds are targeted for property assembly and preparation activities, the rehabilitation of existing buildings, public works improvements, job training and relocation assistance.